UAE’s Bloom Holding eyes expansions in Saudi Arabia, Egypt

Abu Dhabi-based private real estate developer Bloom Holding Co. plans to expand in different sectors within the Saudi Arabian and Egyptian markets, Al Ittihad newspaper reported citing company’s CEO Sameh Muhtadi.

The company plans to expand in the fields of the education, utilities and housing sectors in Saudi Arabia, to tap into the country’s growing potential as Vision 2030 reforms make way for new initiatives and projects, Muhtadi said.

Bloom intends to open new schools in the Kingdom, as well as study implementation of a number of housing projects in cooperation with local partners.

The company’s affiliate BFM has recently signed a memorandum of understanding (MoU) with Al Kifah Real Estate Co. to further collaborate in providing facilities management services and related consultancy services in Saudi Arabia, Muhtadi added.

The developer also plans to expand in the Egypt and is considering new schools in the Egyptian market, the CEO said.